Voya Investment Management LLC Acquires 27,133 Shares of Travere Therapeutics, Inc. $TVTX

by · The Cerbat Gem

Voya Investment Management LLC lifted its stake in Travere Therapeutics, Inc. (NASDAQ:TVTX – Free Report) by 16.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,854 shares of the company’s stock after purchasing an additional 27,133 shares during the period. Voya Investment Management LLC owned 0.22% of Travere Therapeutics worth $4,657,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Capital Fund Management S.A. bought a new position in Travere Therapeutics during the second quarter worth about $1,501,000. Squarepoint Ops LLC increased its stake in shares of Travere Therapeutics by 98.7% in the 2nd quarter. Squarepoint Ops LLC now owns 479,394 shares of the company’s stock valued at $7,095,000 after acquiring an additional 238,070 shares during the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Travere Therapeutics by 343.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 68,000 shares of the company’s stock valued at $1,006,000 after acquiring an additional 52,675 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of Travere Therapeutics in the 1st quarter valued at approximately $304,000. Finally, Hussman Strategic Advisors Inc. bought a new position in Travere Therapeutics during the 2nd quarter worth approximately $2,486,000.

Travere Therapeutics Price Performance

Shares of TVTX opened at $40.60 on Friday. The company has a 50 day moving average of $33.89 and a 200-day moving average of $24.13. The company has a quick ratio of 2.71, a current ratio of 2.75 and a debt-to-equity ratio of 4.23. The stock has a market capitalization of $3.63 billion, a P/E ratio of -38.30 and a beta of 0.89. Travere Therapeutics, Inc. has a twelve month low of $12.91 and a twelve month high of $42.13.

Travere Therapeutics (NASDAQ:TVTX – Get Free Report) last released its earnings results on Thursday, October 30th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.59. Travere Therapeutics had a negative net margin of 20.32% and a negative return on equity of 178.68%. The business had revenue of $164.86 million during the quarter, compared to the consensus estimate of $106.09 million. During the same quarter last year, the firm earned ($0.70) earnings per share. The firm’s revenue for the quarter was up 162.1% compared to the same quarter last year. As a group, equities research analysts forecast that Travere Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Travere Therapeutics news, CAO Sandra Calvin sold 67,115 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $36.00, for a total value of $2,416,140.00. Following the completion of the transaction, the chief accounting officer directly owned 48,545 shares in the company, valued at $1,747,620. This trade represents a 58.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy Coughlin sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $35.03, for a total value of $630,540.00. Following the sale, the director owned 55,500 shares in the company, valued at approximately $1,944,165. This represents a 24.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 233,368 shares of company stock valued at $7,660,972 in the last quarter. 4.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on TVTX shares. Wells Fargo & Company upped their target price on shares of Travere Therapeutics from $27.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Jefferies Financial Group set a $35.00 price target on shares of Travere Therapeutics in a report on Wednesday, September 10th. Stifel Nicolaus raised their price objective on Travere Therapeutics from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Friday, September 12th. Zacks Research cut Travere Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Finally, TD Cowen increased their price target on Travere Therapeutics from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Thirteen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.71.

Check Out Our Latest Stock Analysis on TVTX

Travere Therapeutics Profile

(Free Report)

Travere Therapeutics, Inc (NASDAQ: TVTX) is a biopharmaceutical company headquartered in San Diego, California, dedicated to the development and commercialization of therapies for rare kidney and genetic disorders. The company’s mission is to address unmet needs in conditions with limited treatment options by focusing on diseases that affect small patient populations. Travere combines research, development and commercial capabilities to bring innovative medicines to market.

The company’s lead product is sparsentan, a dual endothelin angiotensin receptor antagonist that has received accelerated approval from the U.S.

See Also

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